JD Sports Fashion reported a rise in annual earnings and indicated Finish Line’s comps in the U.S. grew 9 percent; however, the UK’s largest sneaker chain cut its dividend and warned the coronavirus outbreak has constrained its short term progress. For the 52 weeks ended February...
Dick’s Sporting Goods announced a nearly $800,000 donation to the CDC Foundation in partnership with Callaway Golf. The two companies came together to pledge a percentage of the sales of Callaway MAVRIK Drivers, Fairways, Hybrids and Iron Sets through Dick’s and Golf Galaxy to the CDC...
Walmart plans to launch its own membership service, Walmart+, to rival Amazon Prime this July, according to Recode. The $98-per-year program will offer same-day delivery of groceries and general merchandise, along with other perks such as fuel discounts. Walmart+ is less expensive than Amazon’s $119/year Prime...
Foot Locker Inc. will invest $200 million over the next five years to support the black community through investments in black-owned businesses within youth culture, purchases from more products from black-owned brands and donations to organizations that create economic development and advancement opportunities for minorities. The...
Amazon announced it has established a new Counterfeit Crimes Unit, dedicated to bringing counterfeiters that violate the law and Amazon’s policies by listing counterfeit products in its store to justice. Amazon’s Counterfeit Crimes Unit is a global, multi-disciplinary team composed of former federal prosecutors, experienced...
Eddie Bauer will pull its advertisements from Facebook in support of the “#StopHateforProfit” campaign. #StopHateForProfit, a coalition of civil rights organizations led by the Anti-Defamation League and the NAACP, last Wednesday called on advertisers to suspend their marketing on Facebook in the month of July due...
Macy’s Inc. announced it will reduce corporate and management headcount by approximately 3,900 as part of a restructuring to align its cost base with anticipated near-term sales as the business recovers from the impact of the COVID-19 pandemic. Additionally, Macy’s, Inc. has reduced staffing across its...
Deckers Brands announced the appointment of Victor Luis to its Board of Directors. Coinciding with this appointment, Deckers also announced that James Quinn has resigned from its Board. From January 2014 to September 2019, Luis served as the CEO and on the board of directors of...
The economic downturn brought on by the coronavirus has officially been declared a recession, but National Retail Federation (NRF) Chief Economist Jack Kleinhenz said the key question is how long it will last. “Will this recession be briefer than earlier recessions?” Kleinhenz said. “No one has...
Genesco Inc. has named Mimi E. Vaughn, the company’s president and chief executive officer, to the additional position of chair of the board of directors, effective July 1, 2020. Vaughn will succeed Robert J. Dennis, implementing the final step of a transition plan that began...